The S&P 500 closed at a new all-time high today, confirming that Wall Street is in a full-on bull market. https://twitter.com/axios/status/1748456219361083845 From Axios:
The S&P 500 closed the day at 4839.81. That’s nearly 1% higher than the previous record of 4796.56 reached on Jan. 3, 2022.
Technically speaking, the bull market officially began — and the bear market ended — with the market’s recent low on Oct. 12, 2022.
Back then, investors were despondent amid a broad upsurge in inflation, an ongoing series of interest rate increases from the Federal Reserve and widely held expectations that a recession would hit in 2023.
The S&P is up 35% since then, as those anxieties largely failed to materialize.
Inflation slowed, corporate profits rebounded, the Fed paused interest rate hikes — and has even opened the door to cuts in in 2024 — and the recession never arrived.
You’ll recall Donald Trump claimed the stock market would “crash” under President Biden. #nope https://twitter.com/RpsAgainstTrump/status/1748472212963614801
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